Word: ambrosiano
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...Istituto per le Opere di Religione, commonly known as the Vatican Bank, may not make that claim so confidently in the future. Last week a Milan judge named Marcinkus in an arrest warrant as an "accessory to fraudulent bankruptcy" in connection with the 1982 collapse of the Banco Ambrosiano, then Italy's largest private banking group...
...Vatican Bank was a shareholder in Banco Ambrosiano, and investigators claim that Marcinkus was linked to Ambrosiano President Roberto Calvi's diversion of some $1.3 billion from the bank through ten dummy Panamanian companies. While no evidence of personal gain has ever been alleged, authorities charge that Marcinkus allowed the Vatican Bank to be used by Calvi for his schemes. Marcinkus has strongly denied the accusation, and last Friday the Vatican came to his defense. In an unsigned statement, it expressed "profound astonishment" at the arrest warrants against Marcinkus and two senior officials...
...Vatican has steadfastly denied responsibility in the Ambrosiano affair. Nonetheless, and against Marcinkus' advice, the Vatican agreed in 1984 to pay $244 million to the bank's creditors as a goodwill gesture. At issue is whether the Vatican Bank owned the dummy companies and thus was involved in the fraud. Marcinkus' defense has reportedly been that his bank just held papers of collateral against them...
...ambassador is a personal friend of Archbishop Paul Marcinkus, the Vatican banker who was being investigated by Italian authorities in 1982 for his role in the $1.3 billion collapse of Italy's Banco Ambrosiano. Wilson wrote a letter to his friend, Attorney General William French Smith, asking whether Marcinkus was under U.S. investigation as well. Wilson was told by the Justice Department that his actions were inappropriate. Nonetheless, later that year Wilson tried unsuccessfully to arrange a breakfast between Smith and Marcinkus in Rome. As recently as last May, Wilson called FBI Director William Webster to ask about...
...learned he would be replaced and who was upset that John Paul was allegedly considering loosening the church's prohibition on artificial birth control; Archbishop Paul Marcinkus, head of the Vatican Bank, who is said to have been scheduled for immediate removal; Roberto Calvi, president of Banco Ambrosiano, who faced ruin if his trickery with Vatican funds was discovered; Michele Sindona, the Sicilian banker who knew about the Vatican Bank's alleged laundering of Mafia money; Licio Gelli, grand master of P2, which is supposed to have boasted some 100 Vatican members; and last but not least...